if i have about $1000 in my personal savings account and i have a large credit card bill (dont wanna say ), should I try to pay down the cc bill with those 1000? thats my only savings i have in case of an emergency or if i god forbid lose my job, apt and FH at the same time. TIA
AwaitingAugust
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if that's all you have right now, i'd pay the minimum on the CC (or maybe a little more than the min). better to be safe (and pay interest), than to be sorry.
KM714
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Posted by AwaitingAugust
if that's all you have right now, i'd pay the minimum on the CC (or maybe a little more than the min). better to be safe (and pay interest), than to be sorry.
agreed. if $1000 isnt going to pay off the CC completely, id keep it in the bank. pay off your minimums at the very least.
canmigs
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I would keep it in savings. If something unexpected comes up you may need it. HTH
GiannisWifey
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you need some sort of emergency fund at all time.....you never know when you will need a quick $350 here and there unexpectedly.....I would try to save a bit more and maybe atleast make a payment double what the minumum is. Paying the minimum will only go to your interest, not touching the principle.......try to atleast double it! Do NOT deplete your $1000 savings.
Susan2010
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Suze Orman- would tell you to keep that in the bank as an emergency fund and pay the min on your credit card. Any extra $$ you have after that should go towards paying down the bill.
